Tax and estate lawyer
specialize in legal matters related to taxes and estate planning. Here are some key aspects of their work:
Estate Planning: They help clients create a plan for the distribution of their assets after death. This often involves drafting wills, creating trusts, and establishing powers of attorney and advance medical directives.
Tax Planning: They assist clients in minimizing their tax liabilities through various strategies, such as income tax planning, estate tax planning, and gift tax planning.
Estate Administration: They help with the process of administering an estate after someone has passed away. This includes probate, asset distribution, and resolving any outstanding debts or taxes.
Tax Controversy: They represent clients in disputes with tax authorities, such as the IRS, regarding tax audits, appeals, and litigation.
Charitable Giving: They advise clients on the tax implications of charitable donations and help them structure their giving to maximize tax benefits.
Business Succession Planning: They assist business owners in creating a plan for transferring ownership of the business to the next generation or to new owners.
These lawyers often work closely with financial advisors and accountants to provide comprehensive advice to their clients.
Estate Planning: They help clients create a plan for the distribution of their assets after death. This often involves drafting wills, creating trusts, and establishing powers of attorney and advance medical directives.
Tax Planning: They assist clients in minimizing their tax liabilities through various strategies, such as income tax planning, estate tax planning, and gift tax planning.
Estate Administration: They help with the process of administering an estate after someone has passed away. This includes probate, asset distribution, and resolving any outstanding debts or taxes.
Tax Controversy: They represent clients in disputes with tax authorities, such as the IRS, regarding tax audits, appeals, and litigation.
Charitable Giving: They advise clients on the tax implications of charitable donations and help them structure their giving to maximize tax benefits.
Business Succession Planning: They assist business owners in creating a plan for transferring ownership of the business to the next generation or to new owners.
These lawyers often work closely with financial advisors and accountants to provide comprehensive advice to their clients.